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Cost Accountant and Cost Analysis
Cost Accountant
Is a member of chief accounting officers department? And he is responsible for collecting product costs and preparing exact and timely reports to control and evaluate company operations. Cost accountants assemble, summarize and classify financial and economic data upon the production and pricing of services and goods.
Cost Analysis
Is an activity such uses engineering, motion and time studies, timekeeper's planning and records schedules from production supervisors. Cost analysis systems involve break even analysis, capital expenditure analysis, comparative cost analysis and budgeting techniques. After find out what is really happening, accountants must identify available alternatives. Then professional judgment is desired to apply and interpret the conclusions of each costing systems.
mojor elements of cost sheet
Reasons for Cost Allocation 1. To provide comparison along with externally provided services: It helps in assessing where to continue the contact or service outsiders. 2.
process costing new practices
Question Hornsby Manufacturing has four categories of overheads. The four categories and the expected overhead costs for each category for next year are as follows:
prepare an overhead analysis sheet
Example of Batch Costing The budgeted variable overheads of a company for the year of 2001 are as given as: Department Overhead (shs.)
Example of Over and under absorption of production overhead costs By employing data from diagram assume such the production overhead absorption rate was computed where an acti
Contract Accounts It is a separate account such is maintained and opened for every contract undertaken for the reasons of accumulating cots. Every contract is given a number
Winston Duff is planning to borrow $225,000 to purchase a new home. Mr. Duff is considering two fixed-rate financing alternatives offered by Horsepen Creek State Bank. The first
a partial income statement
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